Speaker 1: Bloomberg Audio Studios, podcasts, radio News, The Stock Movers Report,
Speaker 1: your roundup of companies making moves in the stock market,
Speaker 1: harnessing the power of Bloomberg Data. Let's do stock Movers
Speaker 1: with Lisa Mittail.
Speaker 2: All right, so we want to start with Nvidia sticker MVDA.
Speaker 2: The shares have been down as much as one percent
Speaker 2: before the open. This is all because of a report
Speaker 2: from the Information Right. It said that Nvidia told their
Speaker 2: component suppliers, including Samsung, including Amcor, to stop production related
Speaker 2: to that H twenty AI chip that we've all been
Speaker 2: hearing about. And it came weeks after the Chinese government
Speaker 2: it told local tech companies to stop buying the chips
Speaker 2: due to alleged security concerns. So what the information is
Speaker 2: saying is that Chinese authorities are worried that in Nvidia's
Speaker 2: chips they could contain these back doors that funnel sensitive
Speaker 2: data from China to the US. So as a result,
Speaker 2: that's why Chinese authorities they're encouraging local companies to use
Speaker 2: Chinese made AI chips like these that are sold why
Speaker 2: huah Wi. So that has in Vidia shares lower.
Speaker 1: But what is.
Speaker 2: Soaring on the news, It's the Chinese chip stocks like
Speaker 2: you have in Hong Kong Wa Huahang Semi there shares
Speaker 2: up seventeen percent. Say that three times fast Shanghai Food.
Speaker 2: On a microelectronics, they're up about six percent before they're open.
Speaker 2: So that's as far as in video now Zoom communications, right,
Speaker 2: we all do the videos on Zoom. Sometimes we have
Speaker 2: the meetings there.
Speaker 1: I don't you don't do the Zoom meeting seriously, you
Speaker 1: know my entire life.
Speaker 2: I've done maybe three or four Zoom meetings in my
Speaker 2: entire life. Wow, nobody wants to talk to me anymore.
Speaker 2: That's the bottom you're look it. You want to meet
Speaker 2: people in person. That's what you're all about, Okay, the
Speaker 2: face to face Okay. So their shares them up as
Speaker 2: much as five percent. What it did, It gave us
Speaker 2: stronger than expected annual outlook for sales growth, raise its
Speaker 2: fiscal year forecast, so it looks like customers actually buy
Speaker 2: more of the company's expanded software products. It really blew
Speaker 2: up during their pandemic, you know, that's when everybody went
Speaker 2: into the zooms, right, But as we got back to normal,
Speaker 2: a lot of the customers they let their Zoom licenses laps,
Speaker 2: but corporate customers, a lot of them did hold onto it,
Speaker 2: and that's who is still using the bulk of it.
Speaker 2: We go from that to Workday, okay, sticker Wday their
Speaker 2: share no, no, no, yes, it shares drop more than
Speaker 2: five percent. So second quarter Professional Services ADJ just a
Speaker 2: gross profit and missed estimates. But the other news, okay,
Speaker 2: so it agreed to acquire Paradox, and why this is
Speaker 2: important because it's a company that uses AI to automate
Speaker 2: that recruitment and hiring process, so that brings AI now
Speaker 2: into workday a little bit more AI. No word to
Speaker 2: the financial terms of that deal though, but it just
Speaker 2: came a week because we just heard news before that
Speaker 2: Workday had bought flow Wise. That's a platform for building
Speaker 2: AI agents. And that's another deal that didn't disclose financial agreements,
Speaker 2: but it's just supposed to show you AI started to
Speaker 2: go into that whole human resources like type Realm.
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